中小企业信贷融资模式的创新研究
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摘要
中小企业在我国的经济发展中发挥了重要作用,如增加就业、繁荣经济、推动创新等。但是,中小企业融资问题一直是制约其发展的“瓶颈”,这与其自身固有的特点有关。直接融资上,中小企业难以达到进入资本市场的门槛;间接融资上,中小企业因抵押物、反担保物不足而难以获得资金支持。尽管近年来理论界和实务界对该问题给予了很多的关注,并做出了许多努力,但是该问题一直没有得到彻底的解决。
在中小企业众多的融资渠道中,信贷资金仍然占主要部分,甚至是唯一对中小企业有实质性影响的外部融资形式。而金融机构目前的竞争日益激烈,为中小企业提供资金支持成为其拓展业务,占领市场的主要方向之一,如何开展业务并进行风险控制等一系列问题是必须考虑的。
淄博市是国务院批准的山东半岛经济开放区城市的“较大的市”,淄川区位于淄博市的中心,是淄博市的一个经济强区。目前,淄川区已经成为淄博经济发展的重要基地,形成了以建陶、机械加工、化工、纺织为特色的中小企业群。然而,中小企业融资难一直未得到根本解决,银行虽为中小企业提供了较多的资金支持,但始终不能满足其需求。
本文从中小企业的基本状况入手,分析了淄川区中小企业在经济社会发展中的作用,重点研究了中小企业的资金的制约问题,剖析了中小企业融资难问题的成因和主要的融资难点。在借鉴国内外关于中小企业融资经验的基础上,以中小企业信贷融资难为研究对象,依据企业融资理论、西方经济学、金融学、信息经济学等相关理论,运用规范分析和实证分析等研究方法,提出了中小企业信贷融资的新模式,探索中小企业信贷融资难的深层次途径,以期为解决中小企业信贷融资难问题提供依据。
本论文通过分析认为,信贷市场信息不对称是中小企业信贷融资不足的重要原因;完善信用担保制度,提高中小企业自身素质,创新信贷融资模式,并健全一系列的制度,可以缓解中小企业信贷融资难问题。
In China's economic development,SMEs played an important role, such as increasing employment,promoting economic growth, promoting innovation. However, the SME financing problems as an "bottleneck" have restricted the development of SMEs, which related to its own inherent characteristics. In the direct financing model, the SME access to capital markets is difficult to reach the threshold; In the indirect financing model, the SME because of collateral, lack of anti-collateral funding difficult to obtain. Although in recent years, theorists and practitioners give this issue a lot of attention and made many efforts, but the problem has not been completely resolved.
During lots of financing channels for SMEs, the credit finance is still the important one, even the only form of external financing can impact on SMEs substantially. And now financial institutions compete intensely, supporting finance for SMEs is one of means expanding market operations for themselves, how to operate and control risks must be considered.
Zibo City is a "large city" of economic open zones in Shandong Province, approved by the State Council city's, Zichuan District located in the center of the City, is a strong economical area in Zibo city. Now, Zichuan District has become an important base for economic development, formed a SMEs featuring group, which focuses on ceramic, mechanical processing, chemical, and textile. However, financing difficulties of SMEs has not been solved. Banks provid for SMEs more financial support, but it does not fulfill the demands of SMEs.
In this paper, starting from the basic conditions for SMEs, we analysis the role of SMEs in the economic and social development of Zichuan District, focuses on the problem of financial constraints, and analyzing the main causes of the problem of financing difficulties. Learning the research of home and abroad in the research of financing difficulties for SMEs,, this paper considers the credit financing of SMEs as object, based on the theory of business finance, the West economics, Information Economics, using the methods of Normative analysis and empirical analysis, study the problems of credit financing for SMEs in Zichuan District status, and draw on advanced international experience, build SME credit financing new model of credit financing for SMEs is difficult to explore the deep channels, with a view to solve the problem of financing SMEs provide the basis for the credit.
Through analyzed above, we thinks that credit market information asymmetry is an important reason, perfecting SME's own institutional arrangements, Innovating the model of Credit Financing, improving the range of the system, is an way of easing asymmetric information between the SMEs and bank.
在中小企业众多的融资渠道中,信贷资金仍然占主要部分,甚至是唯一对中小企业有实质性影响的外部融资形式。而金融机构目前的竞争日益激烈,为中小企业提供资金支持成为其拓展业务,占领市场的主要方向之一,如何开展业务并进行风险控制等一系列问题是必须考虑的。
淄博市是国务院批准的山东半岛经济开放区城市的“较大的市”,淄川区位于淄博市的中心,是淄博市的一个经济强区。目前,淄川区已经成为淄博经济发展的重要基地,形成了以建陶、机械加工、化工、纺织为特色的中小企业群。然而,中小企业融资难一直未得到根本解决,银行虽为中小企业提供了较多的资金支持,但始终不能满足其需求。
本文从中小企业的基本状况入手,分析了淄川区中小企业在经济社会发展中的作用,重点研究了中小企业的资金的制约问题,剖析了中小企业融资难问题的成因和主要的融资难点。在借鉴国内外关于中小企业融资经验的基础上,以中小企业信贷融资难为研究对象,依据企业融资理论、西方经济学、金融学、信息经济学等相关理论,运用规范分析和实证分析等研究方法,提出了中小企业信贷融资的新模式,探索中小企业信贷融资难的深层次途径,以期为解决中小企业信贷融资难问题提供依据。
本论文通过分析认为,信贷市场信息不对称是中小企业信贷融资不足的重要原因;完善信用担保制度,提高中小企业自身素质,创新信贷融资模式,并健全一系列的制度,可以缓解中小企业信贷融资难问题。
In China's economic development,SMEs played an important role, such as increasing employment,promoting economic growth, promoting innovation. However, the SME financing problems as an "bottleneck" have restricted the development of SMEs, which related to its own inherent characteristics. In the direct financing model, the SME access to capital markets is difficult to reach the threshold; In the indirect financing model, the SME because of collateral, lack of anti-collateral funding difficult to obtain. Although in recent years, theorists and practitioners give this issue a lot of attention and made many efforts, but the problem has not been completely resolved.
During lots of financing channels for SMEs, the credit finance is still the important one, even the only form of external financing can impact on SMEs substantially. And now financial institutions compete intensely, supporting finance for SMEs is one of means expanding market operations for themselves, how to operate and control risks must be considered.
Zibo City is a "large city" of economic open zones in Shandong Province, approved by the State Council city's, Zichuan District located in the center of the City, is a strong economical area in Zibo city. Now, Zichuan District has become an important base for economic development, formed a SMEs featuring group, which focuses on ceramic, mechanical processing, chemical, and textile. However, financing difficulties of SMEs has not been solved. Banks provid for SMEs more financial support, but it does not fulfill the demands of SMEs.
In this paper, starting from the basic conditions for SMEs, we analysis the role of SMEs in the economic and social development of Zichuan District, focuses on the problem of financial constraints, and analyzing the main causes of the problem of financing difficulties. Learning the research of home and abroad in the research of financing difficulties for SMEs,, this paper considers the credit financing of SMEs as object, based on the theory of business finance, the West economics, Information Economics, using the methods of Normative analysis and empirical analysis, study the problems of credit financing for SMEs in Zichuan District status, and draw on advanced international experience, build SME credit financing new model of credit financing for SMEs is difficult to explore the deep channels, with a view to solve the problem of financing SMEs provide the basis for the credit.
Through analyzed above, we thinks that credit market information asymmetry is an important reason, perfecting SME's own institutional arrangements, Innovating the model of Credit Financing, improving the range of the system, is an way of easing asymmetric information between the SMEs and bank.
引文
①日本《中小企业白皮书》
①杨慧敏,侯天竹,探究我国中小企业融资问题[J],《中国商界》,2008(7)
①樊纲,金融发展与企业改革[M],经济科学出版社
①淄川区2009年政府工作报告,淄川区人民政府网,
②淄博市工商局淄川分局,2010年上半年全区市场主体发展情况分析, 2010年8月16日,第9期
①中国统计局
①淄川区2010年6月30日金融机构简报
①淄博市人民政府网
①周荣顺,李伟,王民,淄川巧解中小企业融资难,Http://www.zbnews.net
②淄川区财政局,淄川区财政扶贫小额贷款担保试点工作成效明显,农村财政与财务,2008(3):48
①淄川区金融机构简报,2009年3月30日
②淄川区X农信社财务报表,2009年12月31日
①王赣杰.探险讨我国中小企业融资制度.经济论坛,2008.(9):94
②贾利平,张莹,黄娟.中小企业融资的国际比较.河南财政税务高等专科学校学报,2006.(5):32—33
①国民金融公库综合研究所:《国民金融公库·调查月报》,No. 456. 1999(4):14
①王桂堂.中小企业融资体制的国际比较与借鉴.河南金融管理千部学院,2004.(6): 11
①日本《中小企业白皮书》
①金永红,奚玉芹.中小企业融资模式选择的国际比较.企业活力,2006.(1): 84
①淄川区X农信社财务报表,2009年12月31日
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①杨慧敏,侯天竹,探究我国中小企业融资问题[J],《中国商界》,2008(7)
①樊纲,金融发展与企业改革[M],经济科学出版社
①淄川区2009年政府工作报告,淄川区人民政府网,
②淄博市工商局淄川分局,2010年上半年全区市场主体发展情况分析, 2010年8月16日,第9期
①中国统计局
①淄川区2010年6月30日金融机构简报
①淄博市人民政府网
①周荣顺,李伟,王民,淄川巧解中小企业融资难,Http://www.zbnews.net
②淄川区财政局,淄川区财政扶贫小额贷款担保试点工作成效明显,农村财政与财务,2008(3):48
①淄川区金融机构简报,2009年3月30日
②淄川区X农信社财务报表,2009年12月31日
①王赣杰.探险讨我国中小企业融资制度.经济论坛,2008.(9):94
②贾利平,张莹,黄娟.中小企业融资的国际比较.河南财政税务高等专科学校学报,2006.(5):32—33
①国民金融公库综合研究所:《国民金融公库·调查月报》,No. 456. 1999(4):14
①王桂堂.中小企业融资体制的国际比较与借鉴.河南金融管理千部学院,2004.(6): 11
①日本《中小企业白皮书》
①金永红,奚玉芹.中小企业融资模式选择的国际比较.企业活力,2006.(1): 84
①淄川区X农信社财务报表,2009年12月31日
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[2]董彦岭,中小企业贷款:信用担保机构是必需的吗[J],《红旗文稿》,2004(6)
[3]付俊文、李琪,信用担保与逆向选择:中小企业融资问题研究,《数量经济技术经济研究》[J],2004(8)
[4]陈勇清,对中小企业银行融资难问题的贷款支持[J],《经营管理者》, 2009(2)
[5]樊纲,金融发展与企业改革[M],经济科学出版社,2000
[6]林汉川、魏中奇,中小企业发展的国别比较[M],中国财政经济出版社,2001。
[7]张利胜、狄娜,中小企业信用担保[M],上海财经大学出版社,2001。
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